The Daily Dab: A Quick Hit On Cannabis Stocks 02/19/14

The cannabis sector was under pressure, but volume dissipated.  There were 5 double-digit percentage gainers and 4 double-digit percentage losers, but most stocks fell.  Only 18% of the stocks had volume above the 30-day average, andjust 6 stocks traded over $5mm in value. 

Vapor Group (SPLI), a relatively newly trading e-cig company, led the way again, setting a new high as volume remained elevated.  Zoned Properties (ZDPY) jumped to a new high on big volume following a deal announcement.  CannaVest (CANV) traded to a new all-time high.  Nuvilex (NVLX) jumped in front a funding deal with Lincoln Park Capital that was announced after the close.

Easton Pharma (EAPH) gave up some recent gains but on decreased volume.   Tranzbyte (ERBB) dropped almost 12% as volume contracted, with the stock reversing from recent highs.  Plandai Biotechnology (PLPL) was weaker following the release of its 10-Q for the quarter ending 12/31.  For those curious about the recent licensing deal with Diego Pellicer, the filing revealed that the company gave 5mm warrants ($.01) to Diego Pellicer.  Medbox (MDBX) gave up ground for the second day in a row following a report by noted short-seller Citron Research.  Hemp, Inc. (HEMP), which as pulled back more than 50% since posting an all-time high earlier this month, fell on lower volume.

Press Releases:

• ICBU/EXMT
• MDBX
• ZDPY

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